Sources close to SteelOrbis have confirmed that US domestic HDG prices have maintained their upward trajectory, adding that prices “must be at or close to their peak.” However, some sources believe that the upward climb has been due to “panic buying,” noting that “once the panic buying stops and people have their steel, the market will correct.” This segment of buyers believes that this scenario is likely to play out in the upcoming weeks and are predicting that prices may start to correct in February.
Other sources, meanwhile, believe that “no one is restocking at these levels, and people are buying only what they need. Since service centers aren’t holding significant inventory, and spot market tons are nearly impossible to find, prices will likely continue to climb throughout the first quarter.”
“The bottom line is this,” a third source said. “None of us have a firm grasp as to how long this is going to last. But for now, steel is expensive, and it will probably be even more expensive by the end of the week.”
Current prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | Previous range | Delivery |
| US domestic HDG base price | $65-$70 | $1,433-$1,543 | $1,300-$1,400 | $63-$68 | ex-mill |
| US domestic Galvalume base price | $65-$70 | $1,433-$1,543 | $1,300-$1,400 | $63-$68 | ex-mill |
| 0.019x41.5625 Gr80/AZ55 | $75+ | $1,653+ | $1,500+ | $73-$76 | ex-mill |